Spouse visa - LTD company Finances?

[jsmith1234]

Hello all,
My wife arrived in the UK on Feb 2017. We will be applying for her spouse extension which comes up on October 2019.
I have all the relevant paper work. However, im slightly confused with financial situation as im a director of a LTD company.

We have 1 child who was born in the UK, so I understand I need to show an income of £23,000 (rounding up).
My LTD company was created around November 2017, so my first-year accounts will need to be generated on November 2018.

I was in a Perm job until March 2018 (then I officially started doing contract work, so for the first few months of my LTD company I had no income via the company)
I earn £225 per day and have been doing so for the last 6 months. My contract has been extended until January 2019 (with possible extension or ill look elsewhere)

Can anyone suggest what I should do in terms of my income for the 1st year of my LTD company? As I will need to show the home office my income etc (slightly confused when it comes to LTD companies, as I haven’t actually been paying my self as my accountant suggested paying my self-dividends to be “tax efficient” .

But I don’t want to pay myself in dividends if its going to cause the HO to think I don’t earn £23,000 per year (which I clearly do).
Thank you

[Londoner007]

What is your child's nationality - I presume British Citizen since born in UK (as you are british too)?

[jsmith1234]

Yes he was born in Britain and so was i.

[CR001]

Then you only need to prove £18,600pa income. British children are excluded from the financial calculation.

[jsmith1234]

Ok, lets say worst case scenario, they reject my application. will my wife and my child (who has a british passport) have to leave the UK? 

[CR001]

Unlikely. She might be given the opportunity to apply on FLR(FP) 10 year partner route (her clock would reset to zero for ILR). If HO refuse FLR(M), they often issue the 10 year partner route which would be 4 x 2.5 year visas.